Federal Bank rises as Q1 retail deposits grow 10% YoY



Federal Bank rose 1.18% to Rs 94.70 after the bank said its retail deposits as per internal classification aggregated to Rs 1,72,506 crore as of 30 June 2022, a growth of 9.8% over Rs 1,57,054 crore as of 30 June 2021.

Retail deposits share improved to 94% from 93% as of 30 June 2021. Total deposits aggregated to Rs 1,83,555 crore, recording a growth of 8.2% over Rs 1,69,393 crore as of 30 June 2021.

The bank’s CASA deposits aggregated to Rs 67,540 crore, recording a growth of 14.6% over Rs 58,959 crore as of 30 June 2021. CASA ratio stood at 36.84% in Q1 FY23 as compared to 34.81% in Q1 FY22.

Customer Deposits rose 9.1% to Rs 1,79,586 crore in Q1 FY23 as compared to Rs 1,64,603 crore in Q1 FY22. Certificate of Deposit grew 12.2% to Rs 2,724 crore in Q1 FY23 as against Rs 2,428 crore in Q1 FY22. Interbank deposits tanked 55.8% to Rs 1,045 crore in Q1 FY23 over Rs 2,362 crore in Q1 FY22.

The bank’s gross advances grew by 16.3% to Rs 1,54,405 crore from Rs 1,32,787 crore as of 30 June 2021. As per internal classification, retail credit book grew by 16.7% and wholesale credit book grew by 15.8%. Retail to wholesale ratio improved to 55:45 (Q1 FY23) from 54:46 (Q1 FY22).

The private lender’s standalone net profit rose 13.13% to Rs 540.54 crore on 2.72% increase in total income to Rs 3948.24 crore in Q4 FY22 over Q4 FY21.

Federal Bank operates through four segments: treasury, corporate or wholesale banking, retail banking and other banking operations. The bank has 1282 branches, 1885 ATMs / recyclers as on 31st March 2022.

Powered by Capital Market – Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

.

Leave a Comment